When you ask around any real estate agent in Maryland, you’ll often hear that choosing and buying a new home is also about its location. Why does it matter? At the very least, choosing a good real estate location is a long-term investment that you can take advantage of in the future (selling the home, having it rented or leased…). For more explanation on this matter, keep reading the following sections.
Why location matters when buying a home
In Maryland, we often advise our clients about buying a home in a good location – like a good neighborhood, the best block in the community – is a great decision.
For one, fixing the home will give you the best return on investment later because it is easier to sell in the future. But then of course, you can buy a lovely new home that does not require any fixing.
Otherwise, buying a home in a bad, sketchy and ugly neighborhood will have its negative impact in the selling process later. The worst is that you might need a lot of time to sell it and ask for a decent price.
What makes a good real estate location?
Location is plain important because your home will be a great investment with it. Check out the following for ways on how to select the ideal location.
Homebuyers would like to settle in a place where it is safe and with little to no crimes recorded. They want to feel peace of mind in their homes and are willing to pay an additional cost for it. By being in a safe neighborhood, they can walk around freely and make interactions with new neighbors easily.
Places of interest
It is another thing to look for when buying a home with or without kids or maybe when planning to have kids in the future.
Homebuyers are going start their home search based on the places near it, including schools, hospitals, malls, restaurants and other landmarks and significant places for modern dwellers.
For example, the higher will be the value of the surrounding homes, which are in a good school district. It is one of the things that affect resale.
Traveling to and from work would become a daily challenge if you would select a property far from your office or business. That is why you should also look into the distance of a home from your workplace before buying a new one in Maryland, for instance.
In the recent years, many developers and builders are taking this factor into their hearts seriously, and it is one of the reasons they are building communities near business districts where offices are.
Look for a home near popular places, including restaurants, shops, airports and others. At the very least, people want to live near commercial districts.
Buying a home near busy districts also put you in a better position of reselling it because many homebuyers will be willing to pay for the home.
For example, a property in a beach community like Ocean City Communities should be near the beaches so that your property will become more valuable.
More people will also be willing to pay for a home that has great views around it. By choosing a home in places, where the views are amazing, is another consideration if you’re looking to get the most out of the reselling process in the future.
Transportation, roads and public transits
The farther the home is located from the subway, bus or other forms of public transit, the less value it will have.
A home is in a good location also means that it is close to public transportation, roads and highways.
For one, your home must be near public transits so that you won’t have a hard time going to places within a short period of time. It must also be near the freeway and other main thoroughfares for more convenience in moving around.
On the web: Buying a Home: Choosing Your Location
Cost of living
How much it cost to live in a place is another location factor to consider when buying a new home. What is the basic daily spending – such as on gas – if you have your own car?
The cost of daily living in a new home will become a huge part of your monthly budget, so you must be able to go around and scour a community for an idea about the daily cost of living there. Later, you will be able to compare different prices of different locations.
Location is one of the most important considerations when buying a home in Maryland. Places of interest, safety, cost of living and transportation, among others, are essentials for location when looking for a new home. Ensure that you carefully consider your options and pick the right home based on its proximity to public transit, schools, hospitals and places of worship, to name some. If you need more help buying a home in one of the Ocean City Communities, you can contact me today!